TRUST POWER

[ziggy415]

Because wholesale price for power is to go up by 10%?

But if you produce it then sell it you pass on the cost....they must have some plan going forward

[777]

Big drop in interim dividend.

Interim dividend to be paid per share
7.5 cents
17.0 cents
-56%

[nztx]

Big drop in interim dividend.

Interim dividend to be paid per share
7.5 cents
17.0 cents
-56%

Indeedy .. was there a reason why they shrunk the dividend ?

Aside from hocking off Crusty Power Retail to another outfit ?

SP might be under pressure, unless there are further goodies that can be trotted out to fill the gap

[RTM]

Indeedy .. was there a reason why they shrunk the dividend ?

Aside from hocking off Crusty Power Retail to another outfit ?

SP might be under pressure, unless there are further goodies that can be trotted out to fill the gap

Outlook
Interim FY-23 dividend of 7.5 cents/share
• Targeting a 16 cents/share full year dividend, subject to FY-23 2H performance being in line with expectations
• Manawa Energy’s dividend policy is to pay out 70%-90% of free cash flow1, on average, over time
• In setting the FY-23 interim dividend we have considered the forecast cash flows over the next three years and have normalised for weather related impacts on FY-23 1H
• We will seek to balance providing a dividend yield to shareholders over the medium term with our growth aspirations.

Page 19 of the presentation. Hmmmmm.

[nztx]

so Special Div of 35c in June, presumably goodies from hocking off the retail silver,
but that means roughly half the prior annualised normal dividend (ignoring the specials
shelled out) going forward ..

Market didn't appear to like the smell of things yesterday either (9 Nov) shedding 49c
or 8.67%. It wouldn't be surprising if the SP slid further either..

The usual Interim and Final past ordinary dividends have been in the 15.5c, 16.0c & mostly
17.0c range - say between 32.5 - 35.0c annualised

A meagre 16c targeted FY Dividend on the $5.16 close still looks expensive IMO - infact less
than interest on money in the bank .. The Board probably need to shake their tail
feathers to dislodge something a fair bit better going forwards in these inflationary times

The price of Power isn't going backwards is it ?

Nor will the Directors fees shared out around the Boardroom table many may imagine ..

How much extra did they award themselves for ditching part of the Trust Power silver
to eager suitor(s) waiting with arms outstretched ?

If hocking off bits of the Trustpower empire saw just a 35c special distribution of what is presumably surplus from these assets (with No Imputation credits = Holders got slugged for a third of it in Withholding Tax) and the net result is half dividend going forwards, then it doesn't appear a very good outcome has been achieved by the Board for shareholders heading into the future.

[bull....]

not much of a yield on this stock now at current prices

[RTM]

not much of a yield on this stock now at current prices

“…..with our growth aspirations.”
Well, they have growth aspirations, and that doesn’t come free. If you believe they might achieve them, then hang on to your shares and wait while enduring a modest dividend, the value of the shares should go up over time. If you don’t, time to sell I think.

[Marilyn Munroe]

Several years ago Trustpower proposed to canal the water from Lake Coleridge down to the Canterbury Plains to optimise the hydraulic head obtained.

I have heard nothing further about this plan recently. I would have thought with the world wide energy crunch and veneration of sustainable emery sources these plans would have been dusted off.

Boop boop de do
Marilyn

[BlackPeter]

Several years ago Trustpower proposed to canal the water from Lake Coleridge down to the Canterbury Plains to optimise the hydraulic head obtained.

I have heard nothing further about this plan recently. I would have thought with the world wide energy crunch and veneration of sustainable emery sources these plans would have been dusted off.

Boop boop de do
Marilyn

Wasn't the purpose of this proposal to increase the reliability of the Canterbury Irrigation scheme?

Irrigation scheme is going ahead, but without the storage option ... from memory it was the Greenies busting the storage bit.

Not sure though, whether generating more power was part of that proposal - was it?

[Marilyn Munroe]

Wasn't the purpose of this proposal to increase the reliability of the Canterbury Irrigation scheme?

Irrigation scheme is going ahead, but without the storage option ... from memory it was the Greenies busting the storage bit.

Not sure though, whether generating more power was part of that proposal - was it?

You are right, I recall Central Plains Water being part of the TrustPopwer proposed scheme. Central Plains Water going it alone must have put the kibosh on it.

One interesting aspect of the plan was to siphon water under the Rakaia River to feed the Highbank station on the southern bank.

Boop boop de do
Marilyn